Axis Bank shares slump 5.59 per cent after Q4 results
Apr 29, 2022
Mumbai (Maharashtra) [India], April 29 : The share price of private sector lender Axis Bank slumped by around 6 per cent on Friday, a day after the company announced its financial results for the quarter ended March 2022.
At the BSE, the share of Axis Bank was trading 5.59 per cent lower at Rs 736.35 at 2.05 pm. The scrip slumped to a low of Rs 734.10 in the intra-day.
Axis Bank's share tumbled despite the general rally in the market. The benchmark Sensex of the BSE was trading 255.82 points or 0.44 per cent higher at 57,776.88 points. Axis Bank was the biggest Sensex loser.
On Thursday, Axis Bank reported a net profit of Rs 4,117.8 crore for the quarter ended March 2022, which is 54 per cent higher when compared with Rs 2,677 crore recorded in the corresponding period of the previous year.
The bank's net interest income, the difference between interest earned and interest expended, increased by 16.7 per cent year-on-year to Rs 8,819 crore for the quarter ended March 2022. Net interest margin (NIM) for the quarter came in at 3.49 per cent.
